Inflation Targeting: Should It Be Modeled as an Instrument Rule or a Targeting Rule? / Lars E.O. Svensson.

Format:

Book

Author/Creator:

Svensson, Lars E.O.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w8925.

NBER working paper series no. w8925

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Inflation Targeting

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2002.

Summary:

The paper discusses how current inflation targeting should be modeled, and argues that it is better represented as a commitment to a targeting rule (a rule specifying operational objectives for monetary policy or a condition for the target variables), than as a commitment to a simple instrument rule (like a Taylor rule).

Notes:

Print version record

May 2002.